HYFI vs. SGOV
HYFI (AB High Yield ETF) and SGOV (iShares 0-3 Month Treasury Bond ETF) are both exchange-traded funds - HYFI is a High Yield Bonds fund actively managed by AllianceBernstein, while SGOV is a Ultrashort Bond fund tracking the ICE 0-3 Month US Treasury Securities Index. HYFI is actively managed, while SGOV is passively managed. Over the past 3 years, HYFI returned 9.21%/yr vs 4.72%/yr for SGOV. At a 0.01 correlation, their price movements are largely independent. HYFI charges 0.40%/yr vs 0.09%/yr for SGOV.
Performance
HYFI vs. SGOV - Performance Comparison
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Returns By Period
In the year-to-date period, HYFI achieves a 1.98% return, which is significantly higher than SGOV's 1.52% return.
HYFI
- 1D
- 0.03%
- 1M
- 0.44%
- YTD
- 1.98%
- 6M
- 2.35%
- 1Y
- 7.65%
- 3Y*
- 9.21%
- 5Y*
- —
- 10Y*
- —
SGOV
- 1D
- 0.01%
- 1M
- 0.29%
- YTD
- 1.52%
- 6M
- 1.79%
- 1Y
- 3.95%
- 3Y*
- 4.72%
- 5Y*
- 3.54%
- 10Y*
- —
HYFI vs. SGOV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
HYFI AB High Yield ETF | 1.98% | 8.91% | 7.98% | 8.66% |
SGOV iShares 0-3 Month Treasury Bond ETF | 1.52% | 4.24% | 5.27% | 3.40% |
Correlation
The correlation between HYFI and SGOV is -0.17, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.17 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.01 |
Correlation (All Time) Calculated using the full available price history since May 16, 2023 | 0.01 |
The correlation between HYFI and SGOV shifts across timeframes, from -0.17 (1 year) to 0.01 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
HYFI vs. SGOV — Risk / Return Rank
HYFI
SGOV
HYFI vs. SGOV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for AB High Yield ETF (HYFI) and iShares 0-3 Month Treasury Bond ETF (SGOV). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
| HYFI | SGOV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -18.33 | ||
| Sortino ratioReturn per unit of downside risk | -272.66 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 195.55 | -194.18 |
| Calmar ratioReturn relative to maximum drawdown | 3.08 | 398.20 | -395.12 |
| Martin ratioReturn relative to average drawdown | 13.91 | 4,462.00 | -4,448.09 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| HYFI | SGOV | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.95 | 20.28 | -18.33 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 14.74 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.70 | 12.49 | -10.79 |
Drawdowns
HYFI vs. SGOV - Drawdown Comparison
The maximum HYFI drawdown since its inception was -6.34%, which is greater than SGOV's maximum drawdown of -0.03%. Use the drawdown chart below to compare losses from any high point for HYFI and SGOV.
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Drawdown Indicators
| HYFI | SGOV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -6.34% | -0.03% | -6.31% |
Max Drawdown (1Y)Largest decline over 1 year | -2.49% | -0.01% | -2.48% |
Max Drawdown (3Y)Largest decline over 3 years | -6.34% | -0.01% | -6.33% |
Max Drawdown (5Y)Largest decline over 5 years | — | -0.03% | — |
Current DrawdownCurrent decline from peak | -0.21% | 0.00% | -0.21% |
Average DrawdownAverage peak-to-trough decline | -0.51% | -0.00% | -0.51% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.55% | 0.00% | +0.55% |
Volatility
HYFI vs. SGOV - Volatility Comparison
AB High Yield ETF (HYFI) has a higher volatility of 1.08% compared to iShares 0-3 Month Treasury Bond ETF (SGOV) at 0.05%. This indicates that HYFI's price experiences larger fluctuations and is considered to be riskier than SGOV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HYFI | SGOV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.08% | 0.05% | +1.03% |
Volatility (6M)Calculated over the trailing 6-month period | 3.10% | 0.13% | +2.97% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.94% | 0.20% | +3.74% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.36% | 0.24% | +5.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.36% | 0.24% | +5.12% |
HYFI vs. SGOV - Expense Ratio Comparison
HYFI has a 0.40% expense ratio, which is higher than SGOV's 0.09% expense ratio.
Dividends
HYFI vs. SGOV - Dividend Comparison
HYFI's dividend yield for the trailing twelve months is around 6.64%, more than SGOV's 3.86% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
HYFI AB High Yield ETF | 6.64% | 6.66% | 6.57% | 4.17% | 0.00% | 0.00% | 0.00% |
SGOV iShares 0-3 Month Treasury Bond ETF | 3.86% | 4.10% | 5.10% | 4.87% | 1.45% | 0.03% | 0.05% |
Frequently Asked Questions
HYFI and SGOV have a correlation of -0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HYFI has higher volatility (1.08%) compared to SGOV (0.05%). In terms of maximum drawdown, HYFI dropped -6.34% vs SGOV's -0.03%.
On 3-year performance, HYFI leads with 9.21% vs 4.72% for SGOV. On fees, SGOV is cheaper at 0.09% per year. On volatility, SGOV has been the lower-risk option at 0.05%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, HYFI has performed better with a 9.21% return vs 4.72%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SGOV is cheaper with a 0.09% expense ratio, compared with 0.40% for HYFI.
HYFI has the higher dividend yield at 6.64%, compared with 3.86% for SGOV.
HYFI is categorized as High Yield Bonds, while SGOV is Ultrashort Bond. They also come from different issuers: AllianceBernstein and iShares. Their fees differ too: 0.40% for HYFI and 0.09% for SGOV.
SGOV currently has the higher Sharpe Ratio (20.28 vs 1.95), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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